Chapter 11, Problem 5DQ

Program Plan Intro

SWOT Matrix:

The internal assessment and external environment are been analyzed and frequently summarized into “Strengths, Weaknesses, Opportunities, Threats (SWOT)” matrix.

Usage of SWOT Matrix:

• The SWOT matrix denotes a simple way to illustrate the following points:
  • What company is doing well?
  • Where it could improve?
  • What are available opportunities?
  • What environmental factors are threats to organization?
• The internal assessment identifies most of strengths and weaknesses.
• The analysis of external environment uncovers most of threats and opportunities.

Weakness and threat:

• The details of weakness are shown below:
  • The weaknesses are identified from internal assessment.
  • The main aim is to minimize weaknesses.
  • It could be improved after its identification.
  • It denotes the entities or actions that could be avoided.
• The details of threats are shown below:
  • A threat can damage potential business.
  • It denotes obstacles faced by business.
  • It denotes a detailed analysis of competitors of business.
  • It analyses the financial conditions and difficulties for organizations.

Strength and opportunity:

• The details of strength are shown below:
  • It denotes features that help to perform better than competitors.
  • It computes advantages over the competitors.
  • It denotes the difference and extra points in organization compared to competitors.
  • It denotes an advantage for an organization.
• The details of opportunities are shown below:
  • It denotes the research on interesting trends that could be followed.
  • It denotes changes in technology and markets.
  • It denotes global as well as local events.
  • It denotes usage of promotional techniques to promote business.
  • It denotes something that is not yet achieved.